Metastatic bone disease can be quite agonizing to patients, both emotionally and financially, when they discover that their cancer has reached an advanced stage, thereby diminishing their chance of survival and adding to the treatment costs. According to the American Academy of Orthopedic Surgeons, nearly 50% of new cancer cases detected each year can spread (metastasize) to the skeleton. This leads to an additional treatment burden, with an estimated annual cost of US$ 12 Bn. The global metastatic bone disease market was valued at US$ 12,450.0 Mn in 2017 and is anticipated to reach US$ 24,886.8 Mn by 2026, expanding at a CAGR of 8.1% from 2018 to 2026. Rise in prevalence of cancers such as lung, breast, and prostate that metastasize to bones is anticipated to drive demand for metastatic bone cancer treatment during the forecast period from 2018 to 2026.
Rise in incidence rate of cancer across the world, favorable reimbursement scenario, stringent regulatory policies assuring better product quality, increase in cancer research funding and new drug approvals, and surge in cancer awareness programs by governments and patient support organizations propel the global metastatic bone disease market. However, high attrition rate in product development cycle and high research and development costs are the major factors restraining the global market.
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The global metastatic bone disease market has been segmented based on treatment, origin of metastasis, end-user, and region. In terms of treatment, the global market has been classified into medication, radiation therapy, surgical intervention, and tumor ablation therapy. The medication segment has been categorized into chemotherapy, hormone therapy, bisphosphonates, opiate therapy, and immunotherapy. Based on origin of metastasis, the global metastatic bone disease market has been divided into breast, lung, thyroid, kidney, prostate, and others. In terms of end-user, the global market has been classified into hospitals, specialty clinics, and ambulatory surgical centers. In terms of region, the global metastatic bone disease market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Based on treatment, the medication segment dominates the global metastatic bone disease market. Dominance of the segment is attributed to rise in prevalence of metastatic bone cancer and increase in preference among physicians to treat patients primarily with medication. Availability of various medication therapies such as chemotherapy, hormone therapy, and bisphosphonates is a major factor likely to propel the segment from 2018 to 2026. Radiation therapy is considered to be the second most prominent segment of the global metastatic bone disease market. The segment is likely to grow at a rapid pace owing to availability of well-qualified radiologists in developed countries and rise in need of radiation therapy for pain management in metastatic bone cancer.
In terms of origin of metastasis, the breast cancer segment dominated the global metastatic bone disease market in 2017 and the trend is likely to continue during the forecast period. Prevalence of breast cancer is rising due to an aging female population. According to the World Health Organization, breast cancer is the most common cancer in women in both developed and developing countries. This is due to increase in life expectancy, rise in urbanization, and adoption of western lifestyle. Prostate cancer is considered to be the second most prominent segment of the global metastatic bone disease market. Prostate cancer is the second most common cancer in men. An estimated 1.1 million men worldwide were diagnosed with prostate cancer in 2012. According to the American Cancer Society, nearly 1,685,210 new cancer cases were registered in the U.S. in 2016. Therefore, increase in number of cancer patients is expected to drive the prostate cancer segment from 2018 to 2026.
Based on end-user, the hospital segment dominates the global metastatic bone disease market. Hospitals are experiencing strong growth propelled by joint ventures, acquisitions, and provision of one-stop-shop services under one roof for various medical needs. Increase in number of hospitals, improvement in reimbursement policies, and increase in incidence of cancer are expected to drive the global metastatic bone disease market. The specialty clinics segment is likely to present significant opportunities in Asia Pacific.
In terms of region, North America and Europe accounted for combined market share of 60% in 2017. Improved health care infrastructure and rise in awareness about cancer and its treatment augment the market in Europe and North America. Increase in medical tourism is projected to drive the metastatic bone disease market in India. Technological advancements and availability of medical devices in Japan and China are anticipated to propel the market in these countries. Countries in Middle East & Africa are potential markets for metastatic bone disease treatments due to increase in incidence of cancer and advancement in technology.
Major players operating in the global metastatic bone disease market are Amgen, Inc., Merck & Co., Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Eli Lilly and Company, Bayer AG, Fresenius Kabi AG, BTG plc, Boston Scientific Corporation, and Medtronic. These players adopt organic and in-organic growth strategies to expand product offerings, strengthen geographical reach, increase customer base, and capture market share.
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